Olo Inc. (NYSE:OLO) Short Interest Update

Olo Inc. (NYSE:OLOGet Free Report) saw a large increase in short interest in May. As of May 15th, there was short interest totalling 2,800,000 shares, an increase of 16.7% from the April 30th total of 2,400,000 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 962,500 shares, the days-to-cover ratio is currently 2.9 days.

Analyst Ratings Changes

Separately, Piper Sandler boosted their target price on shares of OLO from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, OLO currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.10.

Check Out Our Latest Stock Analysis on OLO

OLO Stock Down 0.4 %

NYSE:OLO traded down $0.02 during mid-day trading on Monday, hitting $4.56. 67,984 shares of the stock traded hands, compared to its average volume of 979,309. The stock has a market capitalization of $731.97 million, a price-to-earnings ratio of -15.55 and a beta of 1.27. OLO has a 52 week low of $4.25 and a 52 week high of $8.84. The firm’s 50 day moving average is $4.90 and its two-hundred day moving average is $5.29.

OLO (NYSE:OLOGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $66.51 million during the quarter, compared to analysts’ expectations of $64.22 million. OLO had a negative net margin of 19.35% and a negative return on equity of 1.56%. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) EPS. As a group, research analysts predict that OLO will post -0.08 EPS for the current year.

Insider Activity at OLO

In related news, CRO Diego Panama sold 40,000 shares of OLO stock in a transaction on Friday, May 10th. The shares were sold at an average price of $4.70, for a total transaction of $188,000.00. Following the transaction, the executive now owns 592,806 shares in the company, valued at approximately $2,786,188.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 39.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OLO

Institutional investors and hedge funds have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. purchased a new position in shares of OLO during the first quarter worth $29,000. Rockport Wealth LLC purchased a new position in shares of OLO during the first quarter worth $55,000. Sherbrooke Park Advisers LLC purchased a new position in shares of OLO during the third quarter worth $82,000. Victory Capital Management Inc. raised its holdings in shares of OLO by 29.7% during the fourth quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock worth $80,000 after purchasing an additional 3,219 shares during the last quarter. Finally, MQS Management LLC purchased a new position in shares of OLO during the third quarter worth $86,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

OLO Company Profile

(Get Free Report)

Olo Inc operates an open SaaS platform for restaurants in the United States. The company's platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands' on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants' direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.

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